Announcement under Regulation 30 of LODR.
Price
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Justo Realfintech's board has approved transferring its premium real estate projects branding, sales and marketing business to Chestertons India Private Limited, its wholly owned subsidiary, as a going concern on a slump sale basis. Assets worth Rs. 914.78 lakhs (about 17.4% of the company's net worth of Rs. 5,247.03 lakhs as on 31.03.2025) will be moved. The company will receive 95,000 9% Optionally Convertible Preference Shares of Rs. 1,000 each (Rs. 9.5 crore total) as consideration. Two senior managerial personnel, Mr. Satya Mahaptra and Mr. Praveen Apte, will also be transferred to the subsidiary. The transaction is expected to be completed within one month and is classified as a related party transaction at arm's length.
This is an internal group restructuring rather than an external deal — no cash comes in and shareholding of the listed company remains unchanged. Shareholders should see this as a reorganisation move that won't directly affect stock price, though it concentrates the premium real estate business into a focused subsidiary for operational efficiency.